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Author Topic: Bitcoin is unique to man.  (Read 838 times)
Crptomagma (OP)
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October 17, 2020, 08:38:28 AM
 #1

There is a whole lot to discuss about bitcoin but the mind blowing aspect is its being the world first digitalized currency and decentralized at that, How interesting to know and Its worth basically comes from being the first digital currency that has no human organization or authority to control. It’s has so much become common that anyone can buy,sell or receive it .In our world today a Bitcoiner  is a great investor and has good savings without no limit.

Bitcoin isn’t just safe to keep your funds but it keeps you in charge of your funds. despite the fact that bitcoin is a decentralized currency many human organizations and Authorities still seek for it and use it a means transactions (sending and receiving). I have no doubt that with these uniqueness the future of bitcoin is bright and promising for those who puts interest in it.


Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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October 17, 2020, 03:27:23 PM
 #2

Bitcoin is not the first digitalized currency. It is rather the first decentralized digital currency.
 
How interesting to know and Its worth basically comes from being the first digital currency that has no human organization or authority to control. It’s has so much become common that anyone can buy,sell or receive it .

This technology is indeed revolutionary. But given how "young" it is, there are still limitations especially to some countries wherein there are restrictions regarding selling and trading not only Bitcoin but also other cryptos.


Bitcoin isn’t just safe to keep your funds but it keeps you in charge of your funds. despite the fact that bitcoin is a decentralized currency many human organizations and Authorities still seek for it and use it a means transactions (sending and receiving).

Keeping your funds in the form of Bitcoin is not always advisable or is not really necessary. keep in mind that the market value of Bitcoin is volatile. There is always a risk of 'losing' money whenever there is a sudden downfall on its market price so be cautious of putting all of your funds into it. As what I have mentioned above, there are still limitations on its use as a currency or towards transactions. Authorities may not be seeking for its usage but more of its regulation.

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October 17, 2020, 05:27:22 PM
 #3

Keeping your funds in the form of Bitcoin is not always advisable or is not really necessary.

If you actually meant what you wrote then you don't understand the currency you're writing about. If keeping your funds in a form that gives you control over your finances 24hours a day (A.K.A bitcoin) is not advisable then what is, the banks?. Seems you misunderstood the OP point of view. With bitcoin, you are always in control but the banks can restrict you access to your funds at any moment. Please understand clearly the difference between bitcoin and the service providers like exchanges as they aren't no different from the banks.

Don't think they OP was emphasizing on having all your funds invested into bitcoin instead only highlighting a clear advantage bitcoin has over the traditional currencies (fiat). Bitcoin is quite unique although it has it limitations which is an obvious fact as it's contributing to the slow rate of adoption although that's not much of an issue since the currency is still new and has a lot of time to grow if given the chance.

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October 17, 2020, 05:39:05 PM
 #4

This is exactly why it is going to be very hard for old people - especially from ex-communist countries to adapt to Bitcoin. They were raised to think that the government will take care of them - pension, welfare, etc. I'd say that people in capitalist countries are more accustomed to managing their own money. Anyway I strongly believe that decentralization is the next big thing in our society.
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October 17, 2020, 05:51:12 PM
 #5

Bitcoin gives people in charge of their funds for real , the government, the banks , it's all too complicated and too superficial, but with bitcoins it actually your funds and you can independently make a decision despite any ups and down.

In stock markets and such you have a specific time when you are supposed to mature your funds for and thus it takes some independence away from you, at the same time it's very intensively connected with the government and the market situation is very controlled. But with cryptocurrency like bitcoins it's actually really good to have an option.

It would be better to see if more people appreciate it like you .

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October 17, 2020, 06:10:48 PM
 #6

Bitcoin is a digital assets, that is created for a future useful, which has been contributed into many people life from financial Freedom across the nation. Bitcoin has a unique function and usage, as the case may be in the crypto industries.
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October 17, 2020, 06:20:18 PM
 #7

What makes bitcoin unique is that even people does not know who created it personally, even if most economists are against with it due to volatility, bitcoin community still sticks to it as if they are not affected. With hundreds and thousands of cryptocurrency in the market, bitcoin is no unique as a farm of decentralized currency, the only uniqueness it has is the people behind it.
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October 17, 2020, 07:06:23 PM
 #8

Especially it is very profitable and can be used as a promising asset or source of income and because of Bitcoin's anonymous nature, many parties continue to support the prohibition of cryptocurrency or bitcoin, and this concern arises because bitcoin exists and works outside the jurisdiction. from the traditional banking system and was seen as a real threat. and but the fundamental design is so perfectly crafted that bitcoin can never be banned and can only be managed independently and as long as the user has an internet connection and a bitcoin wallet and transaction activity can be easily carried out and anonymous and untraceable.

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October 18, 2020, 05:00:49 AM
 #9

Especially it is very profitable and can be used as a promising asset or source of income and because of Bitcoin's anonymous nature,
(....)
I don't agree with it's "very profitable and can be use for source of income" since at first, Bitcoin built not for that kind of reason.
It is primarily for payment, just like traditional fiat of ours. For me, Bitcoin for being an asset is kinda a bonus. But being a source of income alone, I totally disagree.
Because what I believe, we will work for Bitcoin, compare in traditional way; we work, and get salary by cash, check or bank deposit.

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October 18, 2020, 05:33:08 AM
 #10

This is exactly why it is going to be very hard for old people - especially from ex-communist countries to adapt to Bitcoin. They were raised to think that the government will take care of them - pension, welfare, etc. I'd say that people in capitalist countries are more accustomed to managing their own money. Anyway I strongly believe that decentralization is the next big thing in our society.

You are wrong. still think negatively about parents, why are you too emotional, modern times like now in remote villages have entered the internet so learning is not affected by age. did you know some of the investors are old people,
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October 18, 2020, 05:41:30 AM
 #11

Bitcoin isn’t just safe to keep your funds but it keeps you in charge of your funds. despite the fact that bitcoin is a decentralized currency many human organizations and Authorities still seek for it and use it a means transactions (sending and receiving). I have no doubt that with these uniqueness the future of bitcoin is bright and promising for those who puts interest in it.

It's because it was developed to be used for micro-payments by Satoshi himself, it's just it evolved throughout the years and become a store of value or speculative asset. As far as being unique, by design, it was not, there are a lot of precursor to it, but just didn't succeed and perhaps by chance Satoshi did find the perfect formula after so many failures.

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October 18, 2020, 06:50:24 AM
 #12

I don't think that Bitcoin is so unique now. Despite it still has some benefits of being the first, there are thousands of other decentralized currencies.

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October 18, 2020, 08:26:22 AM
 #13

Indeed, Bitcoin is such an awesome and unique creation that gives the users the easiest payment method and financial freedom to those who keep on trusting its value as an investment and as our digital asset. I believe, it would go a long and wider ways in the future.
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October 18, 2020, 09:26:53 AM
 #14

This is exactly why it is going to be very hard for old people - especially from ex-communist countries to adapt to Bitcoin. They were raised to think that the government will take care of them - pension, welfare, etc. I'd say that people in capitalist countries are more accustomed to managing their own money. Anyway I strongly believe that decentralization is the next big thing in our society.

Which countries did you mean? I disagree that bitcoin can only be of interest to the younger generation. Bitcoin is so unique that the adult generation found it very interesting not only for investing but also as a means of payment.
The decentralization of bitcoin is fascinating for many. Transfers of our funds without intermediaries, as well as anonymity, is one of those things that we do not receive when dealing with fiat or bank funds.

I don't think that Bitcoin is so unique now. Despite it still has some benefits of being the first, there are thousands of other decentralized currencies.


Your remarks about the thousands of decentralized currencies that could rival Bitcoin made me smile broadly.

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October 18, 2020, 09:49:42 AM
 #15

Bitcoin is not the first digitalized currency. It is rather the first decentralized digital currency.
I support this. There were a lot of digital currencies that have existed even before the dominance and creation of bitcoin. I've read through a discussion that bitcoin was also inspired by Digicash made by David Chaum.

https://en.wikipedia.org/wiki/DigiCash
https://en.wikipedia.org/wiki/David_Chaum

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October 18, 2020, 10:23:23 AM
 #16

Bitcoin is not the first digitalized currency. It is rather the first decentralized digital currency.
Indeed Bitcoin is the first decentralized currency thats why no one can control this and that is the aspect why most
of us invested here and staying even that the
volatility sometimes kills us.
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Keeping your funds in the form of Bitcoin is not always advisable or is not really necessary. keep in mind that the market value of Bitcoin is volatile.
So if that's your point then why still in this market when you can just put your money in banks as they are more safer there?

remember that we are here because we trust bitcoin and we are risking in its volatility.
Quote
There is always a risk of 'losing' money
at least you have mentioned this mate because in every investments there is surely a risk and we must bare with that in order to profit.

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October 18, 2020, 10:53:11 AM
 #17


bitcoin is bright and promising for those who puts interest in it.


I Agree, The future of Bitcoin will be bright in any country. This is based on the increasing number of millennials and generation Z who will increasingly take advantage of technology, including Bitcoin. On the one hand, online trading has also become more widespread. The use of Bitcoin and other cryptocurrencies will be increasingly used. Conventional banks must see this as an effort to adapt to the times. System integration or making digital money derivative products is feasible.

Replacement of the generation of people makes using Bitcoin as a legal means of payment only a matter of time. However, eliminating paper money as a means of payment takes a long time. Fiat currency will now be increasingly abandoned if the security system gets stronger or the use of cryptocurrency increases.

So Bitcoin will be the legal tender for years to come.
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October 18, 2020, 12:50:25 PM
 #18

Not the world's first digitalised currency. Wasn't even the first decentralised one to be fair (thinking of hawala systems that are still in use today, for example)... although with the proliferation of users, nodes and distribution of all those, I agree it is the world's most decentralised now. And the fact it's the world's most accepted currency (try find another currency you can easily sell or buy anywhere in the world) makes it even more special.

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October 18, 2020, 01:38:07 PM
 #19

There is a whole lot to discuss about bitcoin but the mind blowing aspect is its being the world first digitalized currency and decentralized at that, How interesting to know and Its worth basically comes from being the first digital currency that has no human organization or authority to control. It’s has so much become common that anyone can buy,sell or receive it .In our world today a Bitcoiner  is a great investor and has good savings without no limit.

Bitcoin isn’t just safe to keep your funds but it keeps you in charge of your funds. despite the fact that bitcoin is a decentralized currency many human organizations and Authorities still seek for it and use it a means transactions (sending and receiving). I have no doubt that with these uniqueness the future of bitcoin is bright and promising for those who puts interest in it.



Bitcoin is safe and decentralized and you are in charge if it.  But the people outside the crypto community is ignorant of these facts and they think that it is easily lost it hacked. We need to change this to being mass adoption.

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October 18, 2020, 01:44:26 PM
 #20

Especially it is very profitable and can be used as a promising asset or source of income.

If people continues to perceive Bitcoin this way, I guess there will be a very slow progress with this technology in the near future.
There's more than just a "very profitable asset" or another option for "source of income" behind this technology. Bitcoin was created to surpass financial struggle that the traditional banks are depriving it's client since.
Bitcoin should be used more of a currency than just a tool for investment.

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